Benzinga - The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Enphase Energy, Inc. (NASDAQ: ENPH)
- Enphase Energy expanded IQ8 Microinverter deployments in Puerto Rico. The company’s stock has a 52-week low of $113.40 .
- RSI Value: 29.99
- ENPH Price Action: Shares of Enphase Energy dropped 0.2% to settle at $222.54 on Friday and lost 0.1% in after-hours trading.
- Roth Capital initiated coverage on Clearfield with a Buy rating and announced a price target of $120. The company’s stock has a 52-week low of $44.15.
- RSI Value: 28.22
- CLFD Price Action: Shares of Clearfield rose 1.4% to close at $73.40 on Friday and added 0.2% in after-hours trading.
- Priority Technology strengthened its portfolio with gifting solutions partnerships with Factor4 and GiftYa. The company’s stock has a 52-week low of $3.10.
- RSI Value: 28.05
- PRTH Price Action: Shares of Priority Technology fell 3% to close at $3.92 on Friday.
- Cerberus Sentinel announced plans to acquire RAN Security. The company’s 52-week low is $1.88.
- RSI Value: 26.33
- CISO Price Action: Shares of Cerberus Cyber Sentinel fell 1.5% to close at $1.97 on Friday and added 5.1% in after-hours trading.
- Arqit Quantum, last month, reported FY22 results and filed for a mixed shelf of up to $100 million. The company has a 52-week low of $1.9920.
- RSI Value: 25.69
- ARQQ Price Action: Shares of Arqit Quantum fell 0.5% to close at $2.09 on Friday and added 2.4% in after-hours trading.
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